Findings from a new report from Orem, Utah-based KLAS indicate that as the economy puts greater focus on the revenue cycle process, many physician practices are re-evaluating their clearinghouse partners and nearly a third of practices are not committed to their clearinghouse.
The report finds that newer, smaller vendors are taking business away from traditional giants. It also highlights an increasingly crowded market in which cost-conscious and service-challenged providers are laying aside traditional vendor loyalties in favor of new solutions, leaving many vendors scrambling to differentiate themselves.
According to KLAS, Emdeon and Navicure clients both average 89 percent of claims receiving payment on first submission. However, Emdeon’s indirect clearinghouse service received the lowest overall client satisfaction score while Navicure was near the top in overall performance, despite the fact that both had the same first time claims submission payment efficiency. Navicure’s high performance rating was largely attributed to the fact that the company provides constant client interaction and takes care of customer issues in an efficient, consistent manner, it says.
To purchase the full report, healthcare providers and vendors can visit www.KLASresearch.com.
